Oil sells for next August approved

SANA'A, June 08 (Saba)- Headed by Prime Minister Ali Mujawar, the
Higher Committee of Crude Oil Marking approved on Monday sells of
oil for next august of 2009 at quantity of 2.4 billion barrels.

The committee approved to announce 500,000 oil barrels of Marib for
sale in the international markets to get good price soon.

It also listened to a report presented by a technical committee over
the selling measures, which showed that there are around 13
presented their offers.

The committee expressed comfort over development in process of
marking crude oil, affirming importance of doubling efforts focusing
in coming period to attract new companies.

Recently, the Center Bank of Yemen said that Yemen's oil export
revenues has dropped off in the first quarter of 2009 from $ 254.8
million (about 74.5 percent), compared to $ 998.8 million during the
same period last year.

The report of the bank showed that the decline in oil revenues
coupled with a decline in the government's share of the overall oil
exports during the 2009 first quarter from 10.4 million barrels to
5.9 million barrels.

The report pointed out that the crude oil prices average was $ 43.1
per barrel, plunging from $ 96,3 per barrel in the same period last
year.

AH